Increase Policy Renewals. Increase Profitability
OVERVIEW – INSURANCE POLICY Renewals Processing
Insurance policy renewal is one of the most critical aspects of an insurance business. With the ever-growing competition and clients having numerous choices at hand, it has become challenging to retain the clients. In pursuit of retaining them and even expanding the client base, it is essential for all insurance businesses to become strategic and proactive regarding renewals. A competent and experienced policy renewal processing team is the key to attain operational excellence and maximize profits.
At SOS, we work with one aim, which is to make sure your customers stay with you and renew their policies on time. We take renewal requests from the policyholders, understand their precise requirements, pass them on your underwriting team, create exposure summary with detailed comments and descriptions, and even sell additional lines to the clients who require renewal. We understand the importance of time, and thus our team makes sure there isn’t any delay in the whole process. As you outsource insurance renewal processing tasks to us, your underwriters would have an ample amount of time to pay attention to other crucial functions. We extract all the loss run reports, determine if any adjustments are required, and provide you with all the required information before you give out the revised policy premium to the customer. This will help you to save time, efforts, and ensure a smooth overall functioning.
- Keep track of insurance renewals in advance
- Take requests for renewals from clients
- Make sure the modifications (if any) are considered for revising the premium
- Communicate with insurance carriers regarding renewals
- Send out regular reminders to policyholders
- Evaluate all possibilities of risk in renewing a policy
- Make adjustments or alternations to the policies
- Create detailed exposure summaries
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We at SOS have more than ten years of experience in assisting insurance agencies, brokers and companies with their unique business requirements. Our insurance renewal solutions can help you save time, money, and ensure that the renewals are done on time. To learn more about how outsourcing insurance policy renewal works, contact us now!
WE SUPPORT MULTIPLE INSURANCE SOFTWARE
Experienced Insurance Professionals
Our team comprises of qualified and competent people who can take care of your end-to-end policy renewal processing requirements.
Ease of Scalability
As you outsource insurance policy renewal processing to us, you can easily scale up or down your project as per your requirement.
Faster Turnaround Time
We make sure that all the renewals are done on-time & we guarantee you a minimum of 30% faster turnaround time with round-the-clock operations.
Outsourcing can help you save up to 40-60% of your operating costs. Our pricing models are very flexible and can also be customized as per your needs.
We understand that security, privacy, authentication and credibility are a top priority for all insurance agencies, brokers & carriers. We vouch for all of them.
Accurate End Results
We employ several stringent in-house quality control checks to make sure that the work delivered to you is accurate and at par with your expectations.